How Business Owners Can Best Position Their Offerings for 2016 Growth

SDR previously featured five key U.S. manufacturing arenas poised for growth in 2016 and beyond. The baseline for this discussion stems from a keynote presentation by Brian Beaulieu, CEO of ITR Economics, at the 2015 Colorado CEO Forum. Beaulieu also featured several high-level strategies to help business owners prepare their businesses for 2016 growth. With industries such as manufacturing, robotics, alternative energy and others poised to transform marketplaces, the time to prepare for adaptation is now.

We want to highlight some of Beaulieu’s strategies to help prepare your business for coming change as technology and operational and acquisition costs continue to evolve.

Budget for the rise

Some companies have neither the infrastructure nor the inventory to sustain significant growth opportunities. Growth opportunities often come with limited visibility into upcoming business quarters. It’s therefore wise to budget for initial growth opportunities and implement a budgetary review and repositioning process to accommodate sudden growth in tandem with market change. If your company is experiencing significant growth through Q1 and Q2 of 2016, for instance, creating quarterly budgets can provide nimble, market-driven responses, rather than being limited by annual budget parameters.

Invest in customer market research to reduce price sensitivity

As Beaulieu shared, double-blind market research studies can provide invaluable insight necessary to adjust your pricing structure for optimal profitability. Even if projected 2016 economic growth fades into a mild recession, the ability to adjust price sensitivity is much easier to manage with accurate data. Regardless of market growth, gauging prospects with varying margin and price parameters can be more accurately evaluated with reliable data providing indicators for maximum profitability.

Here is a comprehensive list of the suggestions that Beaulieu shared:

Click here for a full review of Beaulieu’s presentation at the 2015 Colorado CEO Forum.